 | TransCanada Corporation - TRP.t is principally comprised of natural gas pipelines in Canada, the United States and Mexico. The company is also the general partner of TC PipeLines, LP, a limited partnership that owns interests in U.S. pipelines. The Keystone pipeline draws on extensive pipelines experience and offers an efficient way to maximize the value of current pipeline assets. |  |
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TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Corporation) today announced that it has completed its previously announced bought deal offering (the Offering) of subscription receipts (the Subscription Receipts).
On March 17, 2016, the Corporation entered into an agreement with a syndicate of underwriters (the Underwriters), led by RBC Capital Markets and TD Securities Inc., under which they agreed to purchase from TransCanada and sell to the public 92,000,000 Subscription Receipts at a price of $45.75 per Subscription Receipt. Effective at the closing, the Underwriters exercised in full their over-allotment option to acquire an additional 4,600,000 Subscription Receipts, such that a total of 96,600,000 Subscription Receipts were issued for total gross proceeds of $4,419,450,000.
Proceeds from the Offering will be used to finance a portion of the purchase price of the previously announced acquisition (the Acquisition) of Columbia Pipeline Group, Inc. (NYSE: CPGX) (Columbia) by subsidiaries of the Corporation's wholly-owned subsidiary, TransCanada PipeLines Limited (TCPL). Columbia is a Houston, Texas-based company that operates an approximately 24,000-kilometre (15,000-mile) network of interstate natural gas pipelines extending from New York to the Gulf of Mexico, with a significant presence in the Appalachia production basin.
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http://canadastockjournal.blogspot.com/2016/04/transcanada-corporation-trpt.html
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